The price of open soybean oil has been fixed at Tk 160 per litre at the retail level in Chattogram, effective from today.
The decision was made at a meeting organised by the Chattogram district administration at the Chattogram Circuit House, with Chattogram City Corporation (CCC) Mayor Shahadat Hossain attending along with Deputy Commissioner Farida Khanam.
For all latest news, follow The Daily Star’s Google News channel.Representatives from businesses, particularly edible oil importers, were also present.
“From today, open soybean oil will be sold at Tk 160 per litre in retail,” said Mayor Shahadat, warning that action would be taken against those found selling oil at a higher price.
On Monday, the CCC mayor and the deputy commissioner visited Khatunganj, the country’s largest wholesale market for daily essentials, amid a supply crisis of bottled soybean oil.
Following the visit, they convened a meeting with oil producers, importers, and traders today.
The price of open soybean oil was then determined at different levels—from importers to retailers—based on discussions in the meeting, said sources.
According to the decision, importers will sell open soybean oil at Tk 153 per litre, dealers at Tk 155, and retailers at Tk 160. The pricing will remain in effect until April 10.
A special task force will take action against anyone found selling oil above the fixed rates.
Senior officials from TK Group and City Group, business leaders from Khatunganj, and representatives of consumer rights organisations attended the meeting.
“Prices of daily essentials are rising ahead of Ramadan,” said Mayor Shahadat.
“The price of edible oil has been prioritised, and strict action will be taken against those who sell it above the fixed rate.”
He noted that some traders were taking advantage of the bottled soybean oil shortage by selling open oil at higher prices.
“This price has been fixed after discussions with importers and wholesalers,” he added.
The CCC, alongside the district administration, will monitor the market, he said.
“If evidence of overpricing is found, action will be taken.”
Deputy Commissioner Farida Khanam acknowledged the edible oil crisis and said, “According to the decision, open soybean oil can be sold at a maximum of Tk 160 per litre in retail. If traders wish, they may sell at a lower price, but not higher.”
“If any trader violates this decision, legal action will be taken through the special task force,” she said.